Labour Party Policies
1) Boosting Venture Capital Investment
The Labour Party’s manifesto is elaborated in their ‘Start-Up, Scale-Up’ report, which explores their innovative strategies for venture capital. The report highlights the party’s vision to foster innovation through VC support, driving economic progress and improving quality of life. It notes that if the UK’s investment levels matched those of the US (as a percentage of GDP), it would result in nearly £16 billion more in venture capital investment. This commitment underscores the party’s dedication to positioning innovation as a key driver for growth and development.
2) Supporting Start-Ups
Labour has announced plans to restructure several legislative aspects to remove barriers to investment, such as access to capital and unpaid invoices, that currently hinder business growth. The party aims to continue supporting the Enterprise Investment Schemes, which benefit investors in early-stage businesses.
Additionally, the Labour Party plans to grant greater independence to the British Business Bank (BBB), a government-owned financial institution that improves access to finance for small firms. The report suggests allowing the BBB to raise external funds, which could further enhance the financial landscape for start-ups in the UK.
